Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500,195 shares of the electric vehicle producer’s stock after selling 7,477 shares during the quarter. Tesla makes up about 1.5% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 12th largest holding. Gateway Investment Advisers LLC’s holdings in Tesla were worth $129,631,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. DKM Wealth Management Inc. grew its holdings in shares of Tesla by 29.2% during the first quarter. DKM Wealth Management Inc. now owns 1,608 shares of the electric vehicle producer’s stock valued at $417,000 after purchasing an additional 363 shares during the last quarter. Blue Zone Wealth Advisors LLC boosted its position in Tesla by 4.1% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 7,749 shares of the electric vehicle producer’s stock valued at $2,008,000 after purchasing an additional 306 shares during the period. KFG Wealth Management LLC grew its stake in Tesla by 9.7% during the 1st quarter. KFG Wealth Management LLC now owns 3,433 shares of the electric vehicle producer’s stock worth $890,000 after buying an additional 303 shares during the last quarter. D. Scott Neal Inc. bought a new position in Tesla during the 1st quarter worth $402,000. Finally, Alliance Wealth Advisors LLC increased its position in Tesla by 13.1% in the first quarter. Alliance Wealth Advisors LLC now owns 913 shares of the electric vehicle producer’s stock worth $237,000 after buying an additional 106 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock valued at $286,248,728 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.7%

Shares of NASDAQ:TSLA opened at $295.14 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $950.63 billion, a price-to-earnings ratio of 144.68, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a 50 day moving average price of $292.17 and a 200 day moving average price of $333.62.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the company posted $0.45 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on TSLA. Wells Fargo & Company reduced their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Glj Research reissued a “sell” rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Piper Sandler set a $400.00 target price on shares of Tesla in a research report on Tuesday, May 6th. Cantor Fitzgerald cut their price target on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Argus set a $410.00 price objective on Tesla in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $294.27.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.